Extra-smart
Nigerians are getting shares of the new Lagos by acquiring plots, acres and
hectares of land at Ibeju Lekki . What are you waiting for? Click: http://www.tectono-business.com/2019/07/have-share-of-new-lagos-by-investing-in.html
The
last few months have certainly not been kind to Oil which has depreciated over
65% since the start of 2020. With Oil expected to trend lower amid widespread
lockdowns across the world and aggressive price war between OPEC & US
Shale, this is nothing but bad news for emerging market energy producers like
Nigeria.
Given
how over 90% of export earnings and more than 60% of government revenues are
acquired from Oil sales, this nightmare development threatens to sabotage
Nigeria’s fragile economic recovery. The negative impacts can already be seen
on the Naira, 2020 budget and local stocks.
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you thought about having a 5-Bedroom Apartment with Penthouse and Indoor
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It
does not end here. According to the Nigerian Stock Exchange (NSE), foreign
portfolio transactions now stand at a ratio of 73% outflows and 27% inflows.
This suggests that international investors are somewhat hesitant to purchase
Nigerian assets amid the unfavourable global and domestic conditions.
The
Central Bank of Nigeria has already depreciated the rate of FX sales to FPI’s
to roughly N380 which could rekindle the interest of foreign portfolio
investors in the country’s financial instrument. However, aggressive monetary
policy and fiscal responses must be implemented to cushion the damage inflicted
by the coronavirus outbreak which infected over 100 people in Nigeria. Such
steps could stimulate appetite for foreign portfolio investments, however
external developments will play a key role.
Have
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At
this point, it will be difficult for Africa’s largest economy to mirror the GDP
growth witnessed in 2019 with first-quarter GDP expected to paint a gloomy
picture. The main risk event for the economy this week will be the Foreign
Exchange Reserves data for March. Earlier in the year, CBN Governor Godwin
Emefiele mentioned that if external reserves tumbled to between $30 billion and
$25 billion, and oil price depreciated between $50 – $45, the CBN could
consider floating the exchange rate and weakening the naira. This may become a
reality sooner than initially anticipated.
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